A Structural Analysis of Disappointment Aversion in a Real Effort Competition
We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequentialmove tournament We predict that a disappointment averse agent, who is loss averse around her endogen...
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| Veröffentlicht in: | The American economic review 2012-02, Vol.102 (1), p.469-503 |
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| container_title | The American economic review |
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| creator | Gill, David Prowse, Victoria |
| description | We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequentialmove tournament We predict that a disappointment averse agent, who is loss averse around her endogenous choice-acclimating expectations-based reference point, responds negatively to her rival's effort. We find significant evidence for this discouragement effect, and use the Method of Simulated Moments to estimate the strength of disappointment aversion on average and the heterogeneity in disappointment aversion across the population. |
| doi_str_mv | 10.1257/aer.102.1.469 |
| format | Article |
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| identifier | ISSN: 0002-8282 |
| ispartof | The American economic review, 2012-02, Vol.102 (1), p.469-503 |
| issn | 0002-8282 1944-7981 |
| language | eng |
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| source | EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing; American Economic Association Web |
| subjects | Agency Analytical estimating Competition Cost allocation Cost estimates Cost functions Disappointment Economic models Economic theory Economics Game theory Laboratories Loss aversion Mathematical independent variables Modeling Point estimators Probability Real effort Risk aversion Social sciences Structural analysis Studies |
| title | A Structural Analysis of Disappointment Aversion in a Real Effort Competition |
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